Nisa Investment Advisors LLC Reduces Stock Position in Regions Financial Corporation $RF

Nisa Investment Advisors LLC cut its stake in Regions Financial Corporation (NYSE:RF) by 10.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 305,088 shares of the bank’s stock after selling 37,497 shares during the period. Nisa Investment Advisors LLC’s holdings in Regions Financial were worth $7,253,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC increased its holdings in Regions Financial by 5.3% in the second quarter. Resonant Capital Advisors LLC now owns 24,016 shares of the bank’s stock valued at $570,000 after buying an additional 1,202 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of Regions Financial by 5.3% during the 2nd quarter. Wealthfront Advisers LLC now owns 476,060 shares of the bank’s stock worth $11,197,000 after purchasing an additional 23,838 shares in the last quarter. Prudent Man Advisors LLC purchased a new position in shares of Regions Financial during the 2nd quarter worth approximately $410,000. MQS Management LLC purchased a new position in shares of Regions Financial during the 2nd quarter worth approximately $391,000. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Regions Financial by 4.4% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 74,677 shares of the bank’s stock worth $1,756,000 after purchasing an additional 3,126 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Stock Down 1.4%

Shares of NYSE RF opened at $24.23 on Tuesday. Regions Financial Corporation has a 52-week low of $17.74 and a 52-week high of $27.96. The firm has a fifty day moving average of $26.07 and a 200-day moving average of $23.93. The stock has a market capitalization of $21.62 billion, a PE ratio of 10.67, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. The company had revenue of $1.81 billion during the quarter. On average, analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 4.4%. Regions Financial’s payout ratio is currently 46.70%.

Insider Buying and Selling at Regions Financial

In related news, Director Roger W. Jenkins acquired 4,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $25.48 per share, with a total value of $101,920.00. Following the purchase, the director directly owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This represents a 167.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David R. Keenan sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total transaction of $750,300.00. Following the sale, the executive vice president directly owned 90,915 shares of the company’s stock, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RF. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Stephens reissued an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Cantor Fitzgerald began coverage on shares of Regions Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price objective for the company. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a research note on Monday, September 29th. Finally, Barclays reissued an “underweight” rating and set a $27.00 price objective (up from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.19.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.